Tax & Accounting Blog

Korea to Colombia FTA

Korea to Colombia FTA

Blog, Global Trade, ONESOURCE September 2, 2016

As of July 15, 2016, the Free Trade Agreement between South Korea and Colombia is now officially in effect. This is Colombia’s first FTA with an Asian country and an important avenue for Colombia to enter the region. South Korea has FTAs with two other South American nations; Peru and Chile. Colombia is a small … Read More

Same Day ACH is Almost Here

Same Day ACH is Almost Here

On September 23, 2016, Same Day ACH becomes a reality. Let’s take a few minutes for a refresher. The Electronic Payments Association (NACHA, previously the National Automated Clearing House Association) has adopted a rule to move payments faster by enabling same day processing for ACH payments. Currently, NACHA moves money between financial institutions with … Read More

Romania Issues Guidance on Automatic Exchange of Financial Account Information

Romania Issues Guidance on Automatic Exchange of Financial Account Information

On August 24, 2016, Romania’s Ministry of Public Finance issued guidance (Order No. 1939/2016) on automatic exchange of financial account information (AEOI) under the U.S. Foreign Account Tax Compliance Act (FATCA) regime and OECD Common Reporting Standard (CRS). Financial institutions in Romania have to begin reporting FATCA information by August 31, 2016, and … Read More

12 Brilliant Tips to Overcome Writer’s Block

12 Brilliant Tips to Overcome Writer’s Block

“Brilliantly brainstormed bits to battle business blogger’s block” was the original title for this post, but it’s a tricky tongue twister. If you’re struggling with writer’s block, you might appreciate getting straight to the point rather than tongue-in-cheek humor. These 12 inspired tips have been cultivated from a number of brilliant bloggers and personal blogging experiences. Whether … Read More

Transitioning to GST Involves Unparalleled Work and Big Challenges

Transitioning to GST Involves Unparalleled Work and Big Challenges

GST or VAT is prevalent in world over in almost 150 countries where no distinction is made between goods and services for levying tax. GST is a multi-layer tax where the consumer of the good or services bears the ultimate burden of the entire tax. In India, the current indirect taxes structure is complex and … Read More